Credit Suisse Group Reiterates “Outperform” Rating for PTC Therapeutics, Inc. (PTCT)
Credit Suisse Group restated their outperform rating on shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) in a report issued on Tuesday. The firm currently has a $25.00 price target on the biopharmaceutical company’s stock.
Several other research analysts have also commented on PTCT. BidaskClub lowered PTC Therapeutics from a buy rating to a hold rating in a research report on Thursday, August 17th. William Blair began coverage on PTC Therapeutics in a research report on Wednesday, August 23rd. They issued a market perform rating and a $17.00 price objective on the stock. Citigroup Inc. set a $18.00 price objective on PTC Therapeutics and gave the company a buy rating in a research report on Wednesday, June 7th. Zacks Investment Research raised PTC Therapeutics from a hold rating to a buy rating and set a $23.00 price objective on the stock in a research report on Wednesday, August 30th. Finally, J P Morgan Chase & Co reissued a neutral rating on shares of PTC Therapeutics in a research report on Tuesday. One analyst has rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of Hold and an average target price of $17.50.
Shares of PTC Therapeutics (NASDAQ PTCT) opened at 20.01 on Tuesday. The firm’s 50-day moving average price is $19.53 and its 200 day moving average price is $15.36. The stock’s market cap is $826.49 million. PTC Therapeutics has a one year low of $4.03 and a one year high of $22.00.
PTC Therapeutics (NASDAQ:PTCT) last released its quarterly earnings data on Tuesday, August 8th. The biopharmaceutical company reported ($0.44) EPS for the quarter, beating the consensus estimate of ($0.89) by $0.45. PTC Therapeutics had a negative return on equity of 81.84% and a negative net margin of 88.43%. The company had revenue of $47.96 million for the quarter, compared to analyst estimates of $28.78 million. During the same period last year, the company posted ($1.14) earnings per share. The firm’s revenue was up 206.9% compared to the same quarter last year. Equities research analysts expect that PTC Therapeutics will post ($2.10) EPS for the current fiscal year.
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Several hedge funds and other institutional investors have recently made changes to their positions in the company. AXA acquired a new position in PTC Therapeutics in the first quarter worth about $103,000. Nisa Investment Advisors LLC acquired a new position in PTC Therapeutics in the second quarter worth about $125,000. Public Employees Retirement System of Ohio acquired a new position in PTC Therapeutics in the second quarter worth about $142,000. Virginia Retirement Systems ET AL acquired a new position in PTC Therapeutics in the first quarter worth about $187,000. Finally, Prudential Financial Inc. acquired a new position in PTC Therapeutics in the second quarter worth about $201,000. 81.30% of the stock is currently owned by institutional investors and hedge funds.
About PTC Therapeutics
PTC Therapeutics, Inc is a biopharmaceutical company. The Company is focused on the discovery, development and commercialization of medicines using its expertise in ribonucleic acid (RNA) biology. Its product pipeline includes Ataluren (Translarna), PTC596 and RG7916. Its product candidate, ataluren, is an orally administered small-molecule compound for the treatment of patients with genetic disorders due to a nonsense mutation.
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